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Lack of UK and US Optimism Leaves Sterling and US Dollar Outlooks Gloomy
Published: 13 Aug at 4 PM
Pound Sterling (GBP)
As yesterday’s UK growth rate data did little to surprise Pound investors, the Pound spend much of today being driven by rival currencies. Sterling remained lower against stronger currencies, but was able to rebound against weaker rivals like the US Dollar despite UK growth concerns.
This week’s notable UK...
Pound (GBP) Rises, BoE States British Economy Better-Than-Expected Despite Covid-19
Published: 6 Aug at 5 PM
The Pound (GBP) rose today after the Bank of England (BoE) held its interest rate at 0.1%. However, the BoE also stated that Britain had fared better-than-expected from the Covid-19 crisis.
In other UK economic news, today saw the release of the UK construction PMI for July, which beat forecasts and rose from 55.3 to 58.1. As...
Euro (EUR) Rises as Hopes Grow for EU Covid-19 Relief Fund
Published: 20 Jul at 5 PM
The Pound (GBP) held steady today despite growing fears for Britian’s retail sector after the retail giant Marks & Spencer announced that it would be slashing jobs due to the Covid-19 crisis. As a result, GBP investors have become increasingly jittery as the economy struggles.
Meanwhile, a study by the accountants Deloitte...
Euro (EUR) Steadies as the ECB Holds its Interest Rates at 0%
Published: 16 Jul at 5 PM
The Pound (GBP) struggled today after UK unemployment remained high with over 640,000 people losing their jobs since the onset of the coronavirus pandemic.
As a result, investors have become increasingly concerned that Britain’s economic recovery could be much slower than previously expected.
Frances O’Grady, the...
New Zealand Dollar (NZD) Struggles on Fears of Another RBNZ Rate Cut
Published: 13 Jul at 5 PM
The Pound (GBP) struggled today after the Institute of Directors (IoD) reported that UK high street footfall had significantly decreased in June. As a result, GBP investors have become increasingly concerned over Britain’s economic recovery.
Meanwhile, Sterling traders have also become worried over the apparent lack of...
Sterling Ends the Week Higher but Worsening Coronavirus Fears Taking Market Focus
Published: 10 Jul at 4 PM
Pound Sterling (GBP)
The Pound saw yet another week of recovery over the past week. Hopes for Brexit developments and some reaction to UK fiscal stimulus plans helped Sterling to firm a little higher. Hopes that UK economic activity will improve as more of the economy reopens is also supporting the currency.
No notable UK data will be...
Strong US Non-Farm Payroll Reports Bolsters Market’s Appetite for Risk
Published: 2 Jul at 5 PM
Pound Sterling (GBP)
The Pound held its ground today after advancing yesterday. Speculation that there could be Brexit developments in the coming weeks, as well as higher market appeal for taking risks, is helping the Pound to hold its advances.
Britain’s final June services and composite PMIs will be published tomorrow. Even if the...
US Dollar (USD) Under Pressure as American Covid-19 Cases Rise
Published: 29 Jun at 5 PM
The Pound (GBP) suffered today after the UK’s Mortgage Approvals figures for May fell to record lows. As a result, GBP investors have becoming increasingly concerned for Britain’s economic recovery going forward.
Today also saw Downing Street drop hints that it could be aiming for September to wrap up its post-Brexit...
Canadian Dollar (CAD) Benefits as BoC Effectively Rules Out Negative Interest Rates
Published: 22 Jun at 5 PM
The Pound (GBP) edged higher against many of its peers today after it was reported that Prime Minister Boris Johnson would more-than-likely ease social distancing guidelines on Tuesday.
As a result, Sterling has benefited from growing hopes for its economy, with relaxed guidelines likely to improve the economy’s performance...
The Pound (GBP) Suffers as Bank of England Ramps Up Stimulus Measures
Published: 18 Jun at 5 PM
The Pound (GBP) fell against most major currencies today after the Bank of England (BoE) announced a further £100 billion addition to its quantitative easing programme. As a result, this left many investors feeling concerned for Britain’s economic recovery.
The BoE was also downbeat in its statement:
‘There is a risk...